MCX Gold is likely to trade with sideways to positive bias during today’s trading session - Monarch Networth Capital Ltd
COMMODITY TECHNICAL OUTLOOK
* MCX Gold is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.76300 - 76000 levels whereas resistance is at Rs.76900 – 77200 levels.
* MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.91100 - 90100 levels whereas resistance is at Rs.93100 - 94100 levels.
* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs. 5860 - 5800 levels whereas resistance is at Rs. 6000 - 6060 levels.
* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.815 – 809 levels whereas resistance is at Rs.827 - 833 levels.
CHART OF THE DAY
MCX-SILVER (DAILY CHART)
Strategy: Intraday
*SILVER prices traded with positive bias during the last trading session; and prices are trading above upward trend line.
* For Intraday session immediate support is at 91100 – 90100 level and resistance at 93100 – 94100. Any pullback towards support level should be taken as buying opportunity targeting immediate resistance of 93100 – 94100 levels on higher side.
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